Well, my physical maladies have me awake again when I should be sleeping, so I’ll just use this opportunity to do a comment cleaner. Glancing at the markets, I see the Bitcoin is getting slaughtered again (in spite of fuzzy-haired crypto geniuses telling you they will make you rich), and equity markets have made the feeblest of “bounces”, already reversing.
I see that charlatan investment advisors are already sending out spam saying that Friday’s rout is “a storm in a teacup” (they can’t even manage to get the metaphor correct). I suspect this sentiment is going to last a very long time, considering the deep conditioning investors have received over the past nine years.
In a way, whether it bounces or not doesn’t really matter to me, because my macro play is much larger than any short-term bounce. The only thing that makes me sad about all this red is that the nimrods in D.C. are going to try to stop it at some point. I’d be totally OK with indexes price using negative numbers.